Investors promise $150m on alternative energy in Ogun

At least 10 investors including foreign and indigenous companies have committed to investing about $150 million in alternative energy in Ogun State.

The Special Adviser to Governor on Energy, Chief Taiwo Fagbemi, disclosed this during a press conference in Abeokuta to announce the 2012 Nigeria Alternative Energy Expo (NAEE), which will be hosted by the Ogun State Government from October 29 to 31 at the June 12 Cultural Centre in Abeokuta, the state capital.

He said the reason Governor Ibikunle Amosun approved the hosting of the expo, is to bring in activities that would improve the energy sector of Ogun State adding that all the states and 774 local governments in the country would be invited. “It will not be a talk show. It will be a practical transformation event as the exhibitors will showcase their expertise in the state,” he added.

He also said the government would carry out an energy audit of the state to determine the state’s energy policy.

On the quantum of energy the investors eye to generate through alternative energy, Fagbemi said that would be determined after the expo, when the state has signed memorandum of understanding (MoU) with the investors, and know what the investors would be able to do within a given period.

He said the event would offer a platform for all stakeholders to network and transfer knowledge and skills; raise awareness and educate the public about climate change in Nigeria and Ogun State in particular and specifically highlight Governor Ibikunle Amosun’s five cardinal point initiatives in the area of rural and infrastructural developments; showcase local and international initiatives and technologies that are at the forefront of renewable energy technology and climate change resilience; and bridge the gap between investors and renewable energy project development in Ogun State and Nigeria, among others.

Fagbemi said: “As at today, we have 10 confirmed exhibitors. The expo is key to help mobilise foreign investment in energy sector. Between our confirmed exhibitors, they are having more than $100 million to $150 million to be invested in the state. These include the commitment of PAX of South Africa and Katika Energy Limited of Germany and Nigeria. The consortium has operations in London, United States, Germany, China, Nigeria and South Africa where massive campaigns have been mounted with road-shows to showcase Nigeria’s rising image.

“The Nigerian Alternative Energy Expo is designed to enable participants stay abreast of developments and highlight issues affecting the energy industry and further provide strategies, technologies and policies covering the wind, solar, biofuel, hydrocarbon, geothermal, ocean/tidal/ wave, agriculture, environment, finance and hydrogen in Nigeria. We believe there is no other better time to be part of this exciting moment that Nigerian government has pledged to deliver uninterrupted power through alternative energy.

“Nigerian National Petroleum Corporation (NNPC), the National Science, Technology and Infrastructure (NASENI) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have given endorsement to be partners in the event.”

Fagbemi said by leading the way in planning for alternative power solutions, the state increases its power threshold and guarantees rural electrification.

Besides, the NAEE 2012, will feature the maiden edition of Nigeria Green Awards, which would be presented in both individual and corporate categories. Winners according to the organisers will be nominated on the basis of individual and corporate commitment to eco-system initiative, resilience in the investment in clean and renewable energy sources. The organisers of the event also urged visiting delegates to take part in tour of the state during the expo to see the untapped opportunities for investment and development across the state.